Paytm acquires hyperlocal fashion platform Shopsity

Online payments and ecommerce marketplace Paytm has acquired Delhi-based Shopsity in a bid to strengthen its offline retail network. Shopsity follows an online-to offline model that offers solutions to small retail stores. Through the acquisition, Paytm is looking to create seller-focused services for its offline merchants. The company is in the process of acquiring merchants to accept payments and plans to go deeper and offer a more engaged platform for interacting with customers.